Oil Ship Hit in Hormuz Strait; Prices Jump

Oil prices rose on Monday after an unidentified projectile struck a ship in the Strait of Hormuz, damaging its navigation bridge. The incident, reported by Bloomberg's Mica Soellner, adds fresh uncertainty to a key global oil route. The strait is a narrow waterway where about one-fifth of the world's petroleum passes. No group has claimed responsibility for the attack, and the vessel's crew was reported safe. The price increase reflects market fears of potential supply disruptions in the region.